Alfa Laval: shares jump after second-quarter report
(CercleFinance.com) - Swedish engineering group Alfa Laval said second-quarter results rose on the back of stronger productivity, but also warned against somewhat lower demand ahead.
The group said adjusted earnings before interest, tax, amortisation and other items (adjusted EBITA) rose to 1.70 billion Swedish kronor in the past quarter, from 1.41 billion a year ago.
But order intake increased by 21 per cent, significantly stronger than expected, with contributions from all three divisions. Alfa's marine division's orders increased by 37 per cent, the company said.
"We expect that demand during the third quarter of 2018 will be somewhat lower than in the second quarter,' it added.
For the second quarter, Alfa Laval expected that demand would be "on the same level as in the first quarter."
However, Alfa Laval shares rose after the market digested the report, trading up 5.3 per cent at 224 Swedish kronor, largely outperforming a 0.1 per cent gain in Stockholm's blue chip index, the OMXS30.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The group said adjusted earnings before interest, tax, amortisation and other items (adjusted EBITA) rose to 1.70 billion Swedish kronor in the past quarter, from 1.41 billion a year ago.
But order intake increased by 21 per cent, significantly stronger than expected, with contributions from all three divisions. Alfa's marine division's orders increased by 37 per cent, the company said.
"We expect that demand during the third quarter of 2018 will be somewhat lower than in the second quarter,' it added.
For the second quarter, Alfa Laval expected that demand would be "on the same level as in the first quarter."
However, Alfa Laval shares rose after the market digested the report, trading up 5.3 per cent at 224 Swedish kronor, largely outperforming a 0.1 per cent gain in Stockholm's blue chip index, the OMXS30.
Copyright (c) 2018 CercleFinance.com. All rights reserved.